(NEW YORK)–AI Venturetech, a data and AI research lab in New York City, announced the launch of DogeLabs.io to research building commercial applications off the Dogecoin blockchain.
While research in next generation blockchain protocols and smart contracts to utilize data and AI applications remain its core focus the company announced it will also explore development of new commercial applications on Dogecoin blockchain through its research wing DogeLabs.io
Based on DOGE continued issuance of new coins the long term investment prospect for this asset remains speculative at best. What DOGE does have that may make it valuable is its speed of transaction, high liquidity, and most important its brand loyalty.
These factor make Dogecoin a potential target for unique micropayment mobile and web-based applications, which we plan to develop through partnerships and collaborations at DogeLabs.io
Dogecoin Transaction Volumes
Dogecoin total volume of USD transferred daily is currently comparable with Litecoin at around $100 million. Dogecoin mining rewards, along with transaction volumes, are now also comparable with those found in Litecoin and Bitcoin Cash.
On average, it takes an average of 1 minute to process a transaction in the next Dogecoin block.
DogeCoin Users and Market Potential
The Doge community is one of the most rabid but loyal crypto communities online, aside from Bitcoin, which makes for a perfect user based to market new applications utilizing Dogecoin as its core means of exchange.
Dogecoin blockchain size is currently around 51.10 GB, with 1,199,285 Reddit subscribers, and 18,692 #Dogecoin tweets per day.
Designing applications geared around this specific market is akin to Apple who have their own loyal followers around their brand. Add in that most traders from time to time hold some sort of position of DOGE within their holdings building applications utilizing DOGE provides an established market on which to build upon, and that is what we will look to do here at DogeLabs.
Applications for Micropayments and Rewards
DOGE by its very inflationary nature may not make it a perfect long-term investment opportunity, but it does hold value in its liquidity and fast transaction speed, which could make it a perfect alternative option for in-app purchases, reward tokens, online tips, and micropayments.
DogeLab.io goal will be to partner and collaborate with other mobile app and blockchain developers to build applications that utilize Dogecoin as its core, or minimum, an alternative payment feature for its users.
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About AI VentureTech
AI VentureTech is an AI research focused on leveraging cutting-edge technologies to deliver data-related products and solutions that empower enterprise customers and partners through improving their business eﬃciency, enhancing their value and realizing their digital transformation. https://aiventuretech.com/